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$2,100,000 Just Listed

  • For Sale
  • Active
  • Retail
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Positioned in the heart of Downtown Summit, this exceptional corner mixed-use property presents a rare opportunity to acquire a premier investment in one of New Jersey's most desirable and vibrant downtown districts. The property features three residential apartments on the second level including one one-bedroom residence and two studio apartments complemented by commercial space on the ground floor.The lower level offers expansive flexible space with direct exterior access, creating additional potential for storage, operations, creative workspace, or supplemental use opportunities. Residential tenants enjoy a dedicated private entrance from Franklin Place.Ideally situated just steps from the Summit Parking Garage, NJ Transit train station with direct service to New York City, boutique shopping, acclaimed dining, and everyday conveniences, the property benefits from exceptional visibility, strong pedestrian traffic, and a highly walkable commuter-centric location. The luxury townhome development along Franklin Place further enhances the long-term appeal and investment potential of this dynamic downtown corridor.Ideal for investors seeking stable mixed-use income, an owner-user desiring a flagship downtown presence, or a developer, this offering represents a unique opportunity within Summit commercial market.

Full Property Details for 53 Summit Ave

General

  • Price: $2,100,000
  • Taxes: $19,783 (2025)
  • Status: Active
  • Type: Retail
  • Source: Garden_State
  • MLS ID: 4032916
  • Updated: 6/9/2026
  • Added to Site: 1 day(s) ago

Business

  • Includes: Building & Land

Interior

  • Flooring: Carpeting, Concrete, Tile, Wood

Rooms

Bathrooms

  • Total Bathrooms: 3
  • Restrooms: 3

Additional Information

  • Equipment: Restrooms - Private, Smoke Detector, Sprinkler System, Storage Area(s)

Parking

  • Parking: None

Location

  • County: Union
  • Driving Directions: Corner of Summit Avenue and Franklin Place
  • Location Details: Business District, Corner, Freestanding

Heating & Cooling

  • Cooling Type: 1 Unit, Central Air Conditioning, Wall A/C Unit(s)
  • Heating Type: 4+ Units, Baseboard - Hotwater
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water
  • Utility Description: Electric, Natural Gas

Structural Information

  • Construction: Brick/Block
  • Exterior Const.: Brick/Block
  • Basement: Yes
  • Basement Desc.: Finished-Partially, Full, Storage, Walk-Out
  • Roof: Asphalt Shingles
  • Loading: None
  • Stories in Building: 2
  • Square Feet: 4,200
  • Aprox. Leasable: 4,200 Sq. Ft.
  • Previous Bldg. Use: Mixed Use Building
  • Office: 2,100 Sq. Ft.

Unit Information

  • 1 Bedroom Units: 1
  • Units w/Full Bath: 3

Lot Features

  • Lot Size (Acres): 0.06
  • Lot Size: 41X64
  • Permitted Use: Mixed Use
  • Zoning: CBD
  • Lot Description: Corner

Financial Considerations

  • Price Per Sq. Ft.: $500
  • Expenses: Electricity, Gas/Oil, Insurance, Taxes, Water/Sewer
  • Assessment Amount: $425,000
  • Land Assmt: $131,000
  • Tax Amount: $19,783
  • Tax Year: 2025

Disclosures and Reports

  • Ownership: Fee Simple
  • Documents Avail.: Financial Statement, Income & Expenses, Leases, No Documents Available, Survey Available
  • APN: 2918-03401-0000-00003-0000-
  • Block: 3401
  • Lot Number: 3

Listed by Keller Williams Realty

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Listing agent

— 53 Summit Ave —

  • Keller Williams Realty

908-477-1010

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 53 Summit Ave

School District:Summit City School District
NameGradesDistance
Lincoln Hubbard Elementary School
52 Woodland Avenue, Summit, NJ 07901
1-50.4 mi
Jefferson Primary Center
110 Ashwood Avenue, Summit, NJ 07091
PK-K0.8 mi
L C Johnson Summit Middle School
272 Morris Avenue, Summit, NJ 07901
6-80.3 mi
Summit Sr High School
125 Kent Place Boulevard, Summit, NJ 07901
9-120.9 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 53 Summit Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/09/2026
Listed
$2,100,000
78.72%
MLS
6/23/2015
Sold
$1,175,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 53 Summit Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$19,320
1%
$425,000
—
2023
$19,197
1%
$425,000
—
2022
$18,998
-1%
$425,000
—
2021
$19,150
-1%
$425,000
—
2020
$19,338
5%
$425,000
—
2018
$18,432
-5%
$425,000
—
2017
$19,440
2%
$425,000
—
2016
$19,138
-1%
$425,000
—
2019
$19,367
44%
$425,000
33%
2015
$13,482
4%
$319,700
—
2013
$12,986
—
$319,700
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Keller Williams Realty

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53 Summit Ave, Summit, NJ 07901 (MLS# 4032916) is a Retail property. 53 Summit Ave is currently listed for $2,100,000 and was received on June 09, 2026. Want to learn more about 53 Summit Ave? Do you have questions about finding other Retail real estate for sale in Summit? You can browse all Summit real estate or contact a Coldwell Banker agent to request more information.

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